Sell ALUMINIUM Aug 2023 @ 204 SL 206 TGT 201-199. MCX - Kedia Advisory
ALUMINIUM
Observations
Aluminium trading range for the day is 200.6-203.6
Aluminium steadied as Yunnan supply surges.
Due to floods and other factors in the north during the week, fewer aluminium ingot arrivals were reported, and aluminium social stocks shrank.
In order to boost demand, there may be more favorable policies to be poured out in China in the future.
SELL ALUMINIUM Aug 2023 @ 204 SL 206 TGT 201-199. MCX
COPPER
Observations
Copper trading range for the day is 732.1-745
Copper falls on strong dollar, cautious investors await US-China data for clues.
Chile saw exports of copper reach $3.36 billion in July, down 2.8% from a year earlier.
In China, market tightness bolstered copper premium in spot market to a one-month high last week at 285 yuan a metric ton.
SELL COPPER Aug 2023 @ 742 SL 746 TGT 736-732. MCX
ZINC
Observations
Zinc trading range for the day is 221-226
Zinc dropped amid weak China manufacturing and lack of stimulus measures
Pledges from the Chinese authorities to boost the country's troubled property sector.
Global zinc market surplus falls to 53,000 metric tons in May – ILZSG
SELL ZINC Aug 2023 @ 225 SL 227 TGT 223-221. MCX
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